(Via Korea Times) It was revealed today that Hyundai Motors have purchased an 80,000 square meter parcel of land in Samseong-dong, an upscale neighbourhood inside Gangnam-gu, an area south of the Han river renowned for its wealth. Hyundai reportedly paid 10.5 trillion won (around $10 billion) for the land, doubling the nearest rival bid from Samsung. Currently both companies maintain lab facilities in Gyeonggi province, about an hour’s drive from the city, if Hyundai does indeed construct a lab inside Seoul it’s possible that talent could be drawn away from rivals on location alone.
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Featured Image: Gangnam-Gu – attributed to Joop Dorresteijn used under Creative Commons Attribution 2.0 Generic license.